Mutual Fund Evaluation and Upgrade – A Simple Five Step Process


There are so many mutual funds and so much information to help you out that it can be confusing or overwhelming. But if you want a quick assessment with periodic upgrades to your wallet, just follow these five easy steps.

Your five step assessment and upgrade process:

Step 1: Visit the Morningstar website: There is a free section that will allow you to search and view a lot of information about any publicly available fund. You need to register for a free login account by giving your email address and some basic information.

2nd step: Set up a personal portfolio or watch list: Once logged in, find the portfolio tab at the top of the page and select the create tab to start a new portfolio or watchlist. Enter all of your existing funds ticker symbols into this watchlist, give it a name, and click the SAVE button.

Step 3: Evaluate your funds: You can select several different portfolio views, I usually create my own under 'my views' and then choose which data is important for me to track. You can do the same and choose from a wide variety of criteria. You are now ready for direct comparisons.

Step 4: Screen with Morningstar: Use the free fund filter tool, under the Funds tab, to find the best performing funds within your investment objective or fund category. You select the criteria you want to filter and it will sort them accordingly.

Step 5: Select and Upgrade: If your fund has been in the top ten in the past three and five years, leave it alone. Otherwise, select the best free fund in the group and add it to your portfolio. If you have a larger portfolio, you might want to select two of the top ten and split your investments. Make sure to add any new funds you buy or like to your watchlist for future reviews and upgrades.

Summary: This is a really easy way to make your mutual fund investments work the way you want them to. It will also help you eliminate late arrivals and strengthen your overall portfolio. You should do this process on a quarterly basis, but don't be too concerned if one of your funds drops off the charts during a quarter. If he stays off the charts for a few quarters, it's probably time to find a replacement.

For more investment, financial, and tax strategies check out my blog or upload your FREE Wealth Expansion Kit by click here. The first step in building wealth is knowing where you are at, and then charting a course that will improve your financial strengths and correct your weaknesses.


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